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Assignment MAE102, Trimester 2, 2013

Due Date: September 12 2013 Thursday by 5pm Word Limit: no more than 1500 words Weighting: 20%

This assignment has two parts. Part A An economys economic performance reflects global economic conditions and over the past few years all major economies have experienced to varying degrees the global financial crisis and economic downturn. You are required to collect and interpret data on the economic performance of Australia, the United States, and one European economy of your choice. Q1. Collect and present (in graph format), annual data showing the rate of growth of real GDP, the inflation rate, and the unemployment rate for Australia, the United States and one European country over the past ten years, 2002-2011. Using the graphing tool in Excel, present, for each country, a line graph containing all three variables. Label each axis and give your chart a title. [4 marks] Q2. What evidence does the data provide of the countries experiencing the economic downturn in recent years? On the basis of the data collected, what similarities and differences are there in the performance of the economies? [4 marks] Part B Q3. Suppose you are an economic advisor. You have been asked to assess the possibilities of growth in an African country. It is a country abundant in labour and some natural resources. The capital to labour ratio is low. It has a free market economy. The political system of the country is stable. Assess this country's prospects for growth. Recommend two things that would enhance the country's growth. [3 marks]

Q4. Stock market crashes are often followed by economic downturns. Using an Aggregate Expenditure diagram, explain how a stock market crash has the potential to lead to a recession in an economy. [4 marks]

Q5. One important aspect of the recent global downturn has been the sharp increase in household saving rates in many advanced economies. Using a 450 line diagram, explain how an increase in the saving rate may affect the output level in the short-run. Is higher saving rate good or bad for an economys long-run growth? Explain. [4 + 1 = 5 marks]

Presentation and Referencing:

Answers should be in full sentences, which have been checked for grammar and spelling. Data should be neatly presented in graph format where requested, with sources correctly documented. The graphs should have a relevant title and each axis on the graphs correctly labelled. Source of data should be acknowledged under each chart and fully documented using a reference list presented at the end of the assignment. References, including electronic references, need to be fully documented in a bibliography, using the Harvard style. For more information on referencing see below and also the Library Resources, available in the Assessment Module in DSO. You do not need to cite references if materials are taken from your textbook and lecture slides. Marks will be deducted for poor presentation.

Useful Sources for data:

Australian Bureau of Statistics, (ABS), available online at <www.abs.gov.au> The ABS provides data on the Australian economy as well as providing a link on its home page to International Statistics. Department of Foreign Affairs and Trade, (DFAT), Country Fact Sheet, available online at www.dfat.gov.au. Provides summary data on a range of countries. Reserve Bank of Australia, (RBA), Alphabetical Index of Statistics, on line, available at < http://www.rba.gov.au/statistics/index.html > accessed July 2010. World Development Indicators: a data base that covers all countries and is available through the library.

Please read the Library Resources slides posted in DSO for information on how to access var ious databases through the library website.

Other Information:
Go to the Division of Student Lifes website, select study skill, student resources, referencing and avoiding plagiarism. The direct URL is <http://www.deakin.edu.au/current-students/study-support/studyskills/handouts/authordateharvard.php>

Please read carefully ASSESSMENT and ACADEMIC HONESTY AND MISCONDUCT in your unit guide before you start working on your assignment.